Action Comics #1(June 1938) — Writer: Jerry Siegel / Drawing: Joe Shuster — Publisher: DC Comics (National Allied Publications) — Estimated CGC 9.0 value:$5,000,000+— Sales record: $6,000,000 (2024).
Action Comics #1is the absolute holy grail of the comic book world. It's the issue that started it all — not just Superman's career, but the very concept of the superhero, the genre that would dominate popular culture for nearly a century. Each surviving copy is a cultural artifact whose value transcends the simple comic book market.
For a collector, owning a copy of Action Comics #1, even in low condition, represents the ultimate achievement. With fewer than 100 copies known worldwide and a sales record of $6 million, this issue is both a collector's item and a world-class financial investment — comparable to a master painting or an ancient manuscript.
Publication context
In 1938, Jerry Siegel and Joe Shuster, two young creators from Cleveland, had been trying for five years to place their Superman character with publishers. Everyone refuses. It was ultimately National Allied Publications (future DC Comics) which agreed to include their story in a new anthological title: Action Comics. The first issue was released in June 1938 at the price of 10 cents, with an estimated circulation of 200,000 copies. Superman only occupies 13 pages of the magazine's 64, but the public response is immediate and phenomenal.
The Story Inside
Superman's story in Action Comics #1 is remarkably narratively effective: in 13 pages, Siegel and Shuster establish the Kryptonian origin (in a single page), the Clark Kent/Superman dual identity, the relationship with Lois Lane, and a populist Superman who attacks social injustices - an abusive husband, a corrupt senator. This original Superman is raw, aggressive, rooted in the reality of the Great Depression.
The cover
Joe Shuster draws the most famous cover in comic book history: Superman lifting a car over his head while bystanders flee in terror. This image has become a universal cultural symbol, reproduced, parodied and paid homage to thousands of times. The yellow-green background, the dynamic posture, the expression of raw power — all contribute to a visual impact that has lost none of its force in more than 85 years.
Draw and survival
Of the 200,000 copies printed in 1938, it is estimated that between 50 and 100 copies remain in the world, all grades combined. Comics from this era were printed on cheap paper, read by children, then thrown away or recycled (especially during the paper collection campaigns of World War II). Only 2 to 3 examples are known in grade higher than 8.0.
CGC census data
The CGC census only lists around 80 graded examples – an extraordinarily low figure for such a famous issue. The highest grade recorded is a 9.0 (the famous “Rocket Copy”). The majority of surviving examples are between 0.5 and 4.0, often incomplete or restored. Each new submission to the census is an event in the world of collecting.
Value by grade
| CGC Grade | Estimate 2025 |
|---|---|
| 9.0 | $5,000,000+ |
| 8.0 | $3,000,000 – $4,000,000 |
| 6.0 | $1,500,000 – $2,500,000 |
| 4.0 | $600,000 – $1,000,000 |
| 2.0 | $300,000 – $500,000 |
| 0.5 (incomplete) | $80,000 – $200,000 |
Price history
Action Comics #1 set record after record: $1 million in 2010, $3.2 million in 2014, and $6 million in 2024 for the CGC 9.0 copy. The progression has been exponential over the past 20 years, with an acceleration linked to the interest of institutional investors and billionaire collectors. Even examples in very low condition (1.0–2.0) are worth today what high grades were worth ten years ago.
Points of vigilance when purchasing
At this price level, the authentication challenges are major. THEundeclared restorations(recoloring, piece fill, spine reinforcement) are the main risk on pre-CGC examples. Complete fakes exist — only CGC or CBCS certification offers a reliable guarantee. For incomplete copies (cover only or missing pages), documented provenance is essential. Any transaction should involve a recognized expert and, ideally, go through an established auction house (Heritage, ComicConnect).
To understand the historical context, consult our guideAction Comics #1: Detailed Value Analysisand our article onages of comics.
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